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Food at Home is Up 13.1 Percent From a Year Ago, Most Since February 1979

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58 comments on Food at Home is Up 13.1 Percent From a Year Ago, Most Since February 1979

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CPI Year-Over-Year Details 

  • CPI: 8.5 Percent 
  • CPI Less Food: 8.1 Percent
  • CPI Food: 10.9 Percent
  • CPI Food at Home: 13.1 Percent 
  • CPI Food and Beverage: 10.5 Percent 
  • CPI Energy (Not Shown): 32.9 percent

Food Details 

What’s in Your Basket? 

  • Meat, Poultry, Fish, Eggs: 10.9 Percent
  • Cereals, Bakery: 15.0 Percent
  • Dairy: 14.9 Percent
  • Fruits and Vegetables: 9.3 Percent
  • Beverages: 13.8 Percent
  • Other Food at Home: 15.8 Percent
  • Away From Home: 7.6 Percent
  • At Home: 13.1 Percent

Given rising tip defaults (and me paying them) I dispute the total cost of food away from home as up only 7.6 percent.

We have seen tip defaults as high as 25 percent. It’s getting absurd.  

More on the CPI, US and Foreign

For more charts and discussion of consumer prices in the US, please see CPI Month-Over-Month Was Unchanged, Year-Over-Year Up 8.5 Percent

Also note Inflation rates are very low in Japan and China vs. the US and Europe. What’s going on?

for discussion, please see Is Low inflation in Japan and China a Sign of Strength or Weakness?

This post originated on MishTalk.Com.

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58 Comments
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JeffD
JeffD
3 years ago
“the IRA provides $4.5 billion to provide rebates of up to 100 percent for lower income families to purchase and install new energy efficiency appliances including heat pumps, water heaters, stoves, and clothes dryers. Families with incomes of up to 80 percent of area median income (AMI) will receive a 100 percent rebate of purchases up to $14,000”
Maybe they should call it the Inflation Resurgence Act.
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8dots
8dots
3 years ago
i see it, u are blind.
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8dots
8dots
3 years ago
C/S is vertically up. Climax never last. The next few dots might cluster together at the top, for an explosive action. C/S might adjust to a change of character.
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KidHorn
KidHorn
3 years ago
Good thing many of us have ample fat reserves.
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8dots
8dots
3 years ago
Reply to  KidHorn
Fat is great, fat absorb and insulate our toxic waste. Our body dump junk in the basal of our capillaries and veins, clogging them, forming
black dots on our forehead and our hands. Eat red/white meat, eggs…animal fat every meal, get cancer or heart attack !
Once your sewer duct is clogged, like the Rhine river, junk spill all over the place. The body store it in fat and other bins. Go to Costco to fill the fridge, Costco’s whorehouse in your house and ==> u are dead meat.
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vanderlyn
vanderlyn
3 years ago
STAGFLATION it is. those predicting fed won’t be raising rates for quite some time, really got it wrong. great for savers.
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Captain Ahab
Captain Ahab
3 years ago
Reply to  vanderlyn
It only improves for savers when the source of debt is foregone consumption (REAL debt) , not zeroes added to the Fed’s balance sheet (FAUX debt).
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vanderlyn
vanderlyn
3 years ago
Reply to  Captain Ahab
yes. totally agree with that. savers though, enjoying decent yields for first time in very long time.
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Captain Ahab
Captain Ahab
3 years ago
Regarding the comments below about boomers and productivity, generational differences etc…. Frankly, I doubt we will ever see any substantive research because of political correctness. Why, you ask?
The unmentioned elephant in this circus is women’s liberation., which had its beginnings during the 1960s. Most boomers escaped this phenomenon and grew up with Leave it to Beaver.
Without denigrating women, it is fair to say women’s liberation was the most profound social change in a couple of centuries. It is obvious that it had a vast impact on culture/society. For example, kids being raised in day care, a heightened awareness of nurturing in the workplace, an emphasis self esteem, declining quality of teachers as smart women became doctors and lawyers instead, etc. etc. Along with women’s liberation came other changes that opened society–anti-discrimination, decline of religion, alternatve sexualities, increased mass media, Mister Rodgers, lowering of IQs, and so on…Today’s woke culture is merely a continuation. Luckily I won’t be around to see how it turns out.
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Zardoz
Zardoz
3 years ago
Reply to  Captain Ahab

Maybe people will start treating each other decently, the end?

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prumbly
prumbly
3 years ago
Reply to  Zardoz
Treating people decently by doxxing and cancelling them if they don’t subscribe to your woke views?
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Maximus_Minimus
Maximus_Minimus
3 years ago
Reply to  Captain Ahab
I wouldn’t necessarily equate women’s liberation with woke culture. Women’s liberation is a natural progress, woke culture is comparable to Mao’s cultural revolution.
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vanderlyn
vanderlyn
3 years ago
Reply to  Maximus_Minimus
100% correct MM.
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vanderlyn
vanderlyn
3 years ago
Reply to  Captain Ahab
productivity per PPP or divided by GDP has been plummetting for many decades in USA. not about women in work force. in fact that adds to productivity. smart women are better than lazy man for a family or nation. it’s about so many factors why it’s tailing off. probably the biggest is that the inventions like continental RR, electric and tractors and autos and airplanes were monumental. things like internet pale in comparison. for productivity increases for humanity.
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footwedge
footwedge
3 years ago
Reply to  vanderlyn
Correct. You have obviously read Dr. Gordon’s study about productivity and growth. According to him the past 250yrs have been a huge aberration in human history due to advances you mentioned and few others and we are about to return to trend – +/- 1%/yr. Guess we’ll find out.
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billybobjr
billybobjr
3 years ago
The workers that are working are less productive doing the same things that were done years ago . What has happened ?
I mean if a worker was washing 6 loads of cloths and the replacement worker is only doing 4 with the same equipment,
then what is the problem ? This is the reality and you hear it from people in tech manufacturing and services the work ethic
is falling . This on top of we have pilot shortages , healthcare worker shortages and so on . We have and army of people who think
because they got a degree they should be paid 6 figures whether they produce or not . This is inflationary . A nice meal
out with a drink for 2 people with tip now is approaching $100 easily $80 plus . The problem I see is the management
is scared to address the low performers because they would rather have a bad employee doing something than no employee at all.
The problem though is it’s like a cancer and the good employees eventually throw in the towel because why should they produce
and work hard when others aren’t pulling their share. . Some products aren’t affected because they are mostly automated
but the things that aren’t look out they are either going up or will be limited in quantity and probably both . I also believe
that managements have created toxic environments and people are miserable working in them with all the woke bull crap
being shoved down their throats and are opting for simpler ways of life and are exiting ASAP .
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Matt3
Matt3
3 years ago
Reply to  billybobjr
I agree with that. We are accepting productivity and attendance issues now that would have resulted in firings. Good employees are no less productive. Also, our good motivated employees have reduced their hours. They are less interested in overtime and more interested in time off. This is a cultural shift.
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RonJ
RonJ
3 years ago
Reply to  billybobjr
“The workers that are working are less productive doing the same things that were done years ago . What has happened ?
I mean if a worker was washing 6 loads of cloths and the replacement worker is only doing 4 with the same equipment,
then what is the problem ? This is the reality and you hear it from people in tech manufacturing and services the work ethic
is falling.”
Denninger’s commenters were talking about this yesterday. Some comments were that it is about DIE: Diversity, Inclusion, and Equity workers, not being qualified for jobs. Others said they themselves were VIP: Vacationing In Place, as their attitude was changed toward the company due to Covid shot mandates. They just won’t put in the effort they used to anymore, for a company that treated them that way.
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vanderlyn
vanderlyn
3 years ago
Reply to  billybobjr
just had a spectacular meal with 4 people in manhattan for 100 dollars, tip included. no alcohol, but fantastic italian sparkling lemonade……………..no auto needed. but got in a few miles walk along the skyline and much more people watching better than anywhere else in pax dumbf**Kistan. cost zero.
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8dots
8dots
3 years ago
SPX approach Jan 24 fractal zone. It’s resistance.
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Captain Ahab
Captain Ahab
3 years ago
Reply to  8dots
I loved fractals from the very first time Mandelbrot showed them. As for a role in finance??? Good luck on that. Brownian motion is far more likely.
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vanderlyn
vanderlyn
3 years ago
Reply to  Captain Ahab
got to fractals after reading taleb. mandelbrot makes it easy to understand. he was a good trader too.
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8dots
8dots
3 years ago
The inflation rate is ZERO, Y/Y is misleading. Next year, with inflation rate of 3%, Y/Y will be minus 5%.
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Bam_Man
Bam_Man
3 years ago
Reply to  8dots
You are clearly mathematically challenged.
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8dots
8dots
3 years ago
Reply to  Bam_Man
President Biden declared that inflation is ZERO.
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Jojo
Jojo
3 years ago
Reply to  8dots
As have various reporters.
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8dots
8dots
3 years ago
Boomers front end approach 80. Within ten years over 1/3 of them will be gone. They own most RE and wealth in this country. They will
leave behind plenty vacant homes. Since the majority of People exist on gov support they will not be able to buy those million dollars home. Rent is rising in a linear way since 2000 with a tiny dip in 2009/2011. The gap between C/S and rent is higher than in 2006. C/S was a
rolling hill in 2006, rising vertically up in 2022. Climax never last. If the vacancy rate persist, both C/S and rent will dip. In Europe things are getting worse. In Turkey the inflation rate is over 80%, but the 10Y is 16%.
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PapaDave
PapaDave
3 years ago
Reply to  8dots
Nonsense.
Boomers are currently age 57-74. It will take 3 decades for them to die off. Their children will inherit their wealth over the next 30 years, including the houses.
The children can move into those houses, rent them, or sell them. If they choose to sell them over those 30 years, that supply will be absorbed by the market due to population growth or it will be offset by builders building fewer houses.
The biggest impact of boomers is that roughly half of them have now retired and the other half will retire, mostly over the next decade. This is causing a shortage of skilled workers.
The next big boomer impact will be the increasing cost to the health care system as they age.
Unlike you, I don’t see much of an impact as they begin to pass away.
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vanderlyn
vanderlyn
3 years ago
Reply to  PapaDave
BINGO.
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Captain Ahab
Captain Ahab
3 years ago
Reply to  PapaDave
Boomers began as the baby boom after WW2, beginning in 1946. A generation is defined as 18 years, so the baby boom technically ended in 1964. It now being 2022, you should be able to do the math–from age 58 to 76
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8dots
8dots
3 years ago
Reply to  Captain Ahab
BINGO !
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PapaDave
PapaDave
3 years ago
Reply to  Captain Ahab
Well, if you want to quibble, age 58 to age 76 is 19 years. It includes those that are 58 AND those that are 76. It isn’t just a simple subtraction. And since we are only partially through 2022, you could use either 57-74 or 58-75. But you would not use 58-76.
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Jojo
Jojo
3 years ago
“Food at home is up 13.1 percent annually. That’s the most since 13.9 percent in February of 1979”
Not germane to inflation since food & energy don’t figure into “core” inflation per the government. So sorry…..
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Christoball
Christoball
3 years ago
These numbers will insure numerous rate increases.
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Casual_Observer2020
Casual_Observer2020
3 years ago
From what I’ve seen, some folks could eat 13% less than they do.
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dtj
dtj
3 years ago
Hasn’t anybody heard the news? Inflation was 0% in July.
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MPO45
MPO45
3 years ago
“We have seen tip defaults as high as 25 percent. It’s getting absurd.”
If you think it’s absurd now, wait a few more years. My brother came to visit and we decided to head out for dinner. We went to three different restaurants and they all required reservations because they were full despite plenty of open tables. Not enough kitchen or wait staff to service more than a few tables.
We finally did find a restaurant and there were TWO people waiting on 60+ people on about 25 tables. Our waiter warned us that there was only one kitchen staff and anything we ordered would take a while. What choice did we have? The TWO waiters couldn’t have been more than 24 years old and I felt sorry for them.
Now imagine a world next year where 2 million boomers have left the workforce and anyone with a pulse gets hired to fill those boomer vacancies in corporate america. Why would you work as a waiter for $2.13/hr when you can go work at Walmart for $20+/hr but why work at Walmart for $20/hr when Amazon is paying $30/hr at their warehouse. Why work at a warehouse for $30/hr when you can get some tech skills and get $100/hr? Rinse and repeat up the ladder until you max out.
Now imagine what will happen when 60 million retire in 2030.
I explained the problem to my brother. I told him how there are three groups of people: boomers (enabled by social security and medicare), the rich (enabled by wealth) and the poor (enabled by SNAP & other gov programs and income).
All of these three groups will put pressure on everyone else to provide goods and services to them all while providing little to no productivity just demand consumption.
Now imagine me sipping a margarita from far away with a big bowl of popcorn watching it all. This should make everyone happy because I’ll be putting pressure outside the US, you can thank me later.
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JackWebb
JackWebb
3 years ago
Reply to  MPO45
We live in the countryside. We buy our meat from the ranchers. We get our eggs from down the road. If I need flour, our friends in North Dakota will send it. I am growing food for the local food banks, and because I am born and raised Catholic and was taught from early on that charity is an obligation never to be bragged about, I will donate it anonymously. We will survive, and we will help those less fortunate. This is what Americans do. Government has its place, but it rests on the people. We will help without Uncle Sucker telling us, because we are Americans and this is what we do.
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TexasTim65
TexasTim65
3 years ago
Reply to  JackWebb
“Government has its place, but it rests on the people.”
This, so much this. I was talking with my parents about this subject a short while ago. We were talking about how I was a kid and even back to when they were kids (in the 30s and 40s) that ‘charity began at home’ and that family helped first. Then the church and other legitimate charities. It was NEVER the government nor was it expected of the government.
LBJ’s great society and the creation of the welfare state turn all that upside down and ultimately made this country far worse off because people lost their self reliance ability.
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Captain Ahab
Captain Ahab
3 years ago
Reply to  MPO45
Imagine what happens when the govt cannot pay pensions and welfare, and 401ks are worth pennies on the dollar. Oh, and one US dollar is worth one baht. (currently at 3 cents) so you better be buying your fortified Thai villa right now
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radar
radar
3 years ago
Just bought a new tube of Colgate toothpaste. Same size box but the tube is now 4oz rather than 6oz. At the same price this is a 50% increase in the price per ounce. Don’t know if my wife paid the same price, but wouldn’t be surprised if it was higher.
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TexasTim65
TexasTim65
3 years ago
Reply to  radar
Shrinkflation has been going on for a few years now.
It’s happened with cereal boxes, rolls of paper towels/toilet paper, bags of chips, candy of all types and as you noted toothpaste. Those are just off the top of my head items that gets bought regularly enough to notice when sizes shrink but price stays same.
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Call_Me
Call_Me
3 years ago
Reply to  TexasTim65
Been going on for a few decades, but the smaller toilet tissue rolls (narrower sheets *and* larger diameter cardboard tubes) in light of expanding backsides is rather egregious!
Many canned veg are smaller(16–>then 15–>now 14 oz), the standard iced cream container hasn’t been a half gallon in a while. Even orange juice has slimmed down to 52 fl oz. Clothing, such as blue jeans, is made of thinner material and now contain a percentage of synthetic fiber instead of 100% cotton.
Call_Me_Al
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Jojo
Jojo
3 years ago
Reply to  radar
Go to the $1.25 stores. 3-4oz tubes of Colgate and Crest are generally available.
Although if full retail is reducing the size from 6oz to 4 oz, then I guess the dollar stores will have to cut theirs to 2oz. Pretty soon, we will only get a thimble full.
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Captain Ahab
Captain Ahab
3 years ago
Reply to  radar
The biggest offender by far is Kelloggs.
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KidHorn
KidHorn
3 years ago
Reply to  Captain Ahab
Many cereal boxes are so small and flimsy, they collapse when you pick them up and try to pour cereal out.
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JRM
JRM
3 years ago
Real Inflation is running 15-20%!!!!
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Maximus_Minimus
Maximus_Minimus
3 years ago
10-15% is well within American kitchen wastage and waistage.
Restaurant prices post-pandemic however are cause for indigestion.
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Zardoz
Zardoz
3 years ago
Perhaps this is the cure for the obesity epidemic.
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Captain Ahab
Captain Ahab
3 years ago
Reply to  Zardoz
The opposite is more likely. Keep in mind food stamps are unaffected… Recipients get more money added and buy snap crap
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JJ Johnson
JJ Johnson
3 years ago
Just ran through the Restaurant Depot (wholesale) pricing, it’s close enough to that 7.6%, I’d say it believable.
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shamrock
shamrock
3 years ago
Wine at home is only up 2.3%, I can live with that.
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Bam_Man
Bam_Man
3 years ago
Reply to  shamrock
Yes, indeed!
Right now I am enjoying a 2017 Egobodegas Goru Gold red blend from Spain. 93 points awarded by Wine Spectator.
$9.99 a bottle with free shipping and no tax!
Salud!
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MPO45
MPO45
3 years ago
Reply to  Bam_Man
Send link or it didn’t happen. I love spanish reds.
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Bam_Man
Bam_Man
3 years ago
Reply to  MPO45
thewinebuyer.com
Search ‘Bodegas Ego Goru Gold’.
$9.99 a bottle and a case ships free with no tax (outside of NJ).
Enjoy!
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Captain Ahab
Captain Ahab
3 years ago
Reply to  shamrock
You’re buying Walmart’s brand right? Actually, while watching the sun set over the marsh, and dolphins all over, it isnt half-bad
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Bam_Man
Bam_Man
3 years ago
Fentanyl is still cheap.
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Jojo
Jojo
3 years ago
Reply to  Bam_Man
How do you know this?
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